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Friday, March 4, 2011

Be Intentional With.......Your Tax Refund

Unless you are one of those individuals who end up owing the government during tax time (probably because you've made too much money), you most likely have some type of refund coming back into your account. I have cashed refund checks for all sorts of large amounts at the bank. $10,000 sound good to anyone?

The intended recipients are usually couples or single parents who have their share of children and often take advantage of our wonderful welfare system. Many are so giddy they can hardly contain themselves when I count out their $100 and $50 bills - mouths salivating and eyes wide with excitement. Yet their plans for spending said cash never seems to be the most wise or economical way. In fact, most cannot wait to tell me how they are going to go blow it on a trip to Disneyland or win big at the local casino. For others, it is a new 60" HDTV or some added bling-bling to soup up their indebted BMW.

Many "underprivileged" Americans do not seem to understand the concept of saving money or buying needed items rather than unnecessary ones. They use their funds irresponsibly instead of relieving the stress on their daily budget. Honestly, instant gratification isn't all it's cracked up to be. Especially if you are still living in a trailer park.

I say all this, not to offend, but to motivate. No matter where you find yourself financially, start thinking about where you are going to put your refund this year.

To the apartment renters........will you put it toward a down payment on house?

To the ones deep in debt........will you put it toward paying down a credit card, car, or mortgage?

To the ones with much needed house repairs........will you put it toward new windows or insulation?

To the ones who do not need much of anything........will you put it toward missions, or your church's building project?

There are times when Joseph and I get really depressed about where we put our tax refund. We would love to blow it on a Caribbean cruise or trip to Europe. But we want to be intentional with our money and use it to the glory of God. (By the way, I'm not saying you can't use your refund on a vacation. You just need to think of your current financial situation and determine if that is the best use of your money.)

In the past, we have put it towards our down payment, paid off a big chunk of our car, and started an emergency fund. And the years we haven't had a clue what to put it towards, God would make our decision for us - usually in the form of a repair for a suddenly misbehaving vehicle. :)